SIA’s first-half profit falls 43.9% as fuel costs bite
This was despite a 16.8% rise in revenue for the first half to $11.3 billion.
Singapore Airlines (SIA) reported a significant decline in its first-half net profit, with a 43.9% drop to $134 million for the period ending November 11, 2027. Despite a 16.8% increase in revenue to $11.3 billion, fueled by heightened demand for both passenger travel and air cargo, the airline attributed the earnings dip primarily to soaring fuel costs.
Fuel prices surged 63.3% to $2.1 billion due to the ongoing conflict in the Middle East, making it difficult for SIA to offset the impact. The group acknowledged the potential spillover effects of the protracted conflict on macroeconomic conditions, including broader inflationary pressures and demand for air travel and freight. Despite these challenges, SIA remains optimistic about navigating the volatility, citing its diversified global network and mix of traffic flows as a buffer against demand fluctuations.
The carrier's investment in Air India, a 25.1% stake, aimed to support the transformation of the financially-struggling Air India Group.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
